Many dividend stocks have sold off over the past year. Higher interest rates made lower-risk investments like bonds and bank CDs more attractive income-generating options. That weighed on the value of some high-quality dividend stocks, pushing up their yields.

On the bright side, income-seeking investors can lock in some pretty attractive dividend yields these days. Realty Income (O -0.17%), Brookfield Renewable (BEPC 0.09%) (BEP 0.19%), AbbVie (ABBV -4.58%), and Verizon (VZ 1.17%) all currently offer dividend yields above 4%, which is more than double the S&P 500's yield (1.5%). Here's why income-seeking investors should scoop up their shares this month.

Building in growth for 2024

Realty Income currently offers a 5.6% dividend yield. The real estate investment trust (REIT) pays a monthly dividend, which makes it a great way to generate passive income. The company also has an excellent track record of increasing its payout. It has raised its dividend 122 times since its public market listing in 1994, including for the last 104 consecutive quarters.

The REIT should have no problem continuing to increase its payout. Despite the impact of rising interest rates on the commercial real estate market, Realty Income is on track to acquire $9 billion of income-producing properties this year, smashing its initial forecast of $5 billion. Meanwhile, it has already gotten a head start on next year's growth, agreeing to acquire fellow REIT Spirit Realty in a $9.3 billion deal. That acquisition alone should boost its funds from operations (FFO) per share by over 2.5% next year.

The REIT believes it can grow its FFO per share by 4% to 5% over the longer term as it continues to acquire income-producing real estate. It has one of the top balance sheets in the REIT sector, giving it ample financial flexibility to continue growing. Meanwhile, it continues to expand into new areas, enhancing its growth runway.

Robust growth ahead

Brookfield Renewable currently yields 4.9%. The global renewable energy giant has increased its payout by at least 4% annually for the past dozen years.

It has ample power to continue growing its payout. Brookfield Renewable has a quartet of growth drivers (inflation-indexed power contracts, margin enhancement activities, development projects, and acquisitions) that should power 10%+ FFO per share growth through 2028. The company recently closed several acquisitions, putting it in a strong position to deliver 10%+ FFO per share growth in the coming year. That easily supports the company's plan to increase its payout by 5% to 9% per year.

While one needle-moving acquisition could fall apart, the company is seeing an uptick in investment opportunities because of higher rates. They're making it harder for others in the industry to fund their growth, which could open new doors for Brookfield to grow.

A healthy dose of income

AbbVie currently yields 4.2%. The healthcare company has done a fantastic job of increasing its payout over the years. Since its formation in 2013, it has boosted its payout by an impressive 285% overall, including 4.7% in October.

The company's latest dividend increase "underscore[s] our confidence in AbbVie's long-term outlook," stated CEO Richard Gonzales in the third-quarter earnings release. While the company is facing pressures from slowing sales of its blockbuster drug Humira, others are helping pick up some of the slack.

Meanwhile, the company continues to invest heavily in developing new products. It also recently agreed to a transformative transaction to bolster its neuroscience pipeline by agreeing to acquire Cerevel Therapeutics for $8.7 billion. The company's growth-focused investments should help drive its revenue higher over the long term, enabling AbbVie to continue increasing its attractive dividend.

A free cash flow machine

Verizon's dividend currently yields 6.9%. That's in the top 5% dividend yields among S&P 500 members. Verizon recently nudged its payout up by another 1.9%, delivering its 17th straight year of dividend growth, the longest streak in the U.S. telecom sector.

Verizon should be able to continue pushing its payout higher. The telecom giant produces a tremendous amount of cash. That's giving it the money to invest in expanding its 5G network while also paying dividends and strengthening its already solid balance sheet.

The company expects its 5G investments to grow its revenue and cash flow. Meanwhile, capital spending is starting to come down as it passes the peak of a heavy investment phase. On top of that, the company is working to cut billions of dollars in costs over the next couple of years. These factors should supply Verizon with more excess free cash flow to pay dividends and continue firming up its financial foundation.

Great income investments to stock up on this month

Realty Income, Brookfield Renewable, AbbVie, and Verizon pay very attractive dividends these days. Better yet, they have excellent track records of increasing their payouts, which should continue in 2024. That makes them look like great income stocks to scoop up this month to boost your income in 2024 and beyond.